GERSON LAW FIRM CLOSES $100 MILLION REVOLVING CREDIT FACILITY

February 22, 2016

GERSON LAW FIRM APC has closed a Freddie Mac revolving credit facility for up to $100 million.

Theresa Loftsfgard and Shereen Rossini led the closing effort for GERSON LAW FIRM for the Freddie Mac secured line-of-credit facility. Under the terms of the facility, continuous funding is provided as multifamily assets, which are each a separate secured loan, are moved in and out of the facility, provided that each asset is a conventional multifamily, senior housing, or student housing.

Among features of the structured finance transaction, were the following:

10 multifamily properties were pledged as collateral.

Multifamily properties located in Florida, Georgia, Michigan, and Mississippi.

8 separate loans.

Each loan cross-collaterized and cross-defaulted.

Floating interest rate with ability to fix.

Initial funding of approximately $31,000,000, with ability to utilize up to the full $100 million

Ability to move properties in and out of the credit facility.

GERSON LAW FIRM APC

GERSON LAW FIRM APC represents clients on all matters real estate and business related, both transactional and litigation. GERSON LAW FIRM APC is nationally recognized for its representation of some of the nation's largest lenders on loan closings, special servicing, and enforcement proceedings throughout the United States. GERSON LAW FIRM APC practice includes representing lenders closing loans under Fannie Mae's DUS Lending Program and Freddie Mac's Program Plus for multifamily investments. GERSON LAW FIRM APC represents major national banks, life insurance companies, and private funds in all matters lending related, including originations and loss mitigation strategies, for hotels, office buildings, shopping centers, multifamily and construction.

Michael Tucker mtucker@mba.org – reproduced from https://www.mba.org/mba-newslinks/2017/october/mba-newslink-friday-10-27-17/commercial/multifamily/freddie-mac-finds-widening-affordable-rental-shortfall October 27, 2017 The already-acute shortfall of affordable rental apartments has widened “considerably” over the past six years, said Freddie...